UNCTAD’s Economic Development in Africa Report 2023

UNCTAD’s Economic Development in Africa Report 2023 - Africa’s rise as a global supply chain force.

Africa can become a prominent manufacturing destination for tech-intensive industries & a key link in global supply chains, with its abundant resources and a growing consumer market.

African economies offer many advantages:

A shorter and simpler access to primary inputs;
A younger, technology-aware and adaptable labour force;
A growing middle class demanding more sophisticated goods and services.

Expanding energy supply chains into Africa is an opportunity to accelerate climate action. But only about 2% of global investments in renewable energy go to Africa.

Debt relief is key to offer African countries fiscal space to invest in supply chains. On average, African countries pay 4x more for borrowing than the US and 8x more than European economies.

UNCTAD urges governments to create sound policies, regulations and programmes to promote the widespread adoption of digital technologies.

UNCTAD reiterates its call for better financing solutions to offer African countries and businesses affordable capital and liquidity to invest in strengthening their supply chains.

Explore UNCTAD’s Economic Development in Africa Report 2023 - The Potential of Africa to Capture Technology-Intensive Global Supply Chains: https://unctad.org/edar2023